Welcome to Bookmarker!

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

Source code on GitHub (MIT license).

137

Chapter 6: The Magic of Debt; or, Reading Marx Like a Child

7
terms
2
notes

Dienst, R. (2017). Chapter 6: The Magic of Debt; or, Reading Marx Like a Child. In Dienst, R. The Bonds of Debt. Verso, pp. 137-154

(adjective) keen, sharp / (adjective) vigorously effective and articulate / (adjective) caustic / (adjective) sharply perceptive; penetrating / (adjective) clear-cut, distinct

137

Marx actually admired capitalism in some ways, which means that he might have been right about a few things; meanwhile, his trenchant criticisms of it will be treated as the quaintly perceptive observations of an awkward crank

about mainstream publications occasionally "rediscovering" Karl Marx

—p.137 by Richard Dienst
notable
4 years, 5 months ago

Marx actually admired capitalism in some ways, which means that he might have been right about a few things; meanwhile, his trenchant criticisms of it will be treated as the quaintly perceptive observations of an awkward crank

about mainstream publications occasionally "rediscovering" Karl Marx

—p.137 by Richard Dienst
notable
4 years, 5 months ago

(noun) the action of the state in taking or modifying the property rights of an individual in the exercise of its sovereignty; differs from eminent domain in that it can also refer to private property taken by a private entity authorised by the government

140

the toys are recognizably like commodities, expropriated from the one who makes them and sent out to travel a long (but never infinite) chain of transactions before they can be allowed to resume their unremarkable existence as objects of use or enjoyment

on a story that Karl Marx would tell his daughter Eleanor about a toy shop

—p.140 by Richard Dienst
notable
4 years, 5 months ago

the toys are recognizably like commodities, expropriated from the one who makes them and sent out to travel a long (but never infinite) chain of transactions before they can be allowed to resume their unremarkable existence as objects of use or enjoyment

on a story that Karl Marx would tell his daughter Eleanor about a toy shop

—p.140 by Richard Dienst
notable
4 years, 5 months ago

when a word or phrase has multiple meanings (from Greek)

145

Note that the German word for “debt” and “guilt” is the same: die Schuld. Not only Nietzsche but also Benjamin probed this polysemy on several occasions.

Walter Benjamin

—p.145 by Richard Dienst
notable
4 years, 5 months ago

Note that the German word for “debt” and “guilt” is the same: die Schuld. Not only Nietzsche but also Benjamin probed this polysemy on several occasions.

Walter Benjamin

—p.145 by Richard Dienst
notable
4 years, 5 months ago

(noun) a ceremonial feast of the American Indians of the northwest coast marked by the host's lavish distribution of gifts or sometimes destruction of property to demonstrate wealth and generosity with the expectation of eventual reciprocation / (noun) a social event or celebration / (verb) to give (as a gift) especially with the expectation of a gift in return / (verb) to hold or give a potlatch for (as a tribe or group) / (verb) to hold or give a potlatch

146

To assemble a full definition of debt, one would need to address philosophies of morality and justice and anthropologies of sacrifice and potlatch

—p.146 by Richard Dienst
notable
4 years, 5 months ago

To assemble a full definition of debt, one would need to address philosophies of morality and justice and anthropologies of sacrifice and potlatch

—p.146 by Richard Dienst
notable
4 years, 5 months ago

the part of theology concerned with death, judgment, and the final destiny of the soul and of humankind

147

debt names something basic to the experience of social being as a dimension of historicity, even in its most eschatological form

footnote 7

—p.147 by Richard Dienst
notable
4 years, 5 months ago

debt names something basic to the experience of social being as a dimension of historicity, even in its most eschatological form

footnote 7

—p.147 by Richard Dienst
notable
4 years, 5 months ago

(adj) anticipatory; a figure of speech in which the speaker raises an objection to their own argument and then immediately answers it; also called procatalepsis

147

the most absolute kind of debt, original sin, appears as the most foolproof way to give meaning, proleptically, to one’s death, an act that thus becomes a way to ensure that one’s debts will never be paid except by the God who granted them

footnote 7

—p.147 by Richard Dienst
notable
4 years, 5 months ago

the most absolute kind of debt, original sin, appears as the most foolproof way to give meaning, proleptically, to one’s death, an act that thus becomes a way to ensure that one’s debts will never be paid except by the God who granted them

footnote 7

—p.147 by Richard Dienst
notable
4 years, 5 months ago
148

[...] Credit appears as a kind of corrupt Absolute Idea developing itself in ever higher spirals of alienated activity within a hollowed-out community. Although it might seem, Marx argues, that credit would allow for the purest, most transparent (because abstract) form of mutual recognition, it is in fact the most direct form of subjugation, because it takes on the dimensions of a whole social and cultural order. The one who must accept credit (the debtor) submits to the judgment of the creditor, who stands for the judgment of all those who possess wealth. Credit becomes a more thorough way to mediate the struggle between master and slave: everyone who participates in the struggle thereby becomes committed to maintaining its formal structure. system as the alienation of an essential social “wealth,” and based on that understanding, “debt” appears as the negation of an originary or potential plenitude.

—p.148 by Richard Dienst 4 years, 5 months ago

[...] Credit appears as a kind of corrupt Absolute Idea developing itself in ever higher spirals of alienated activity within a hollowed-out community. Although it might seem, Marx argues, that credit would allow for the purest, most transparent (because abstract) form of mutual recognition, it is in fact the most direct form of subjugation, because it takes on the dimensions of a whole social and cultural order. The one who must accept credit (the debtor) submits to the judgment of the creditor, who stands for the judgment of all those who possess wealth. Credit becomes a more thorough way to mediate the struggle between master and slave: everyone who participates in the struggle thereby becomes committed to maintaining its formal structure. system as the alienation of an essential social “wealth,” and based on that understanding, “debt” appears as the negation of an originary or potential plenitude.

—p.148 by Richard Dienst 4 years, 5 months ago

(adjective) of, relating to, or characteristic of Hegel, his philosophy, or his dialectic method / (noun) a follower of Hegel; an adherent of Hegelianism

148

Whatever the polemical virtues of this account—and it sounds as true as anything Baudrillard ever said about the simulations of the capitalist code—it remains firmly within Hegelian coordinates.

I know all of these words but I don't really know what he's saying tbh

—p.148 by Richard Dienst
notable
4 years, 5 months ago

Whatever the polemical virtues of this account—and it sounds as true as anything Baudrillard ever said about the simulations of the capitalist code—it remains firmly within Hegelian coordinates.

I know all of these words but I don't really know what he's saying tbh

—p.148 by Richard Dienst
notable
4 years, 5 months ago
152

The credit system ... accelerates the material development of the productive forces and the creation of the world market ... At the same time, credit accelerates the violent outbreaks of this contradiction, crises, and with these elements the dissolution of the old mode of production.

The credit system has a dual character immanent in it: on the one hand it develops the driving force of capitalist production, enrichment through the exploitation of others’ labor, into the purest and most colossal system of gambling and swindling, and restricts ever more the already small number of the exploiters of social wealth; but on the other hand, it establishes the form of transition to a new mode of production.

citation: Karl Marx, Capital, Volume 3, trans. David Fernbach (New York: Vintage Books, 1981), p. 572.

—p.152 by Karl Marx 4 years, 5 months ago

The credit system ... accelerates the material development of the productive forces and the creation of the world market ... At the same time, credit accelerates the violent outbreaks of this contradiction, crises, and with these elements the dissolution of the old mode of production.

The credit system has a dual character immanent in it: on the one hand it develops the driving force of capitalist production, enrichment through the exploitation of others’ labor, into the purest and most colossal system of gambling and swindling, and restricts ever more the already small number of the exploiters of social wealth; but on the other hand, it establishes the form of transition to a new mode of production.

citation: Karl Marx, Capital, Volume 3, trans. David Fernbach (New York: Vintage Books, 1981), p. 572.

—p.152 by Karl Marx 4 years, 5 months ago